The U.K. is likely to win its suit against the European Central Bank (ECB) over clearing houses if changes to a draft European Union (EU) derivatives regulation are approved, Reuters reports. It had contested a new rule by the central bank requiring clearinghouses to set up ventures in the euro zone if they handle large amounts of euro-denominated securities.

The country contended that the rule breaches European law and fundamental single market principles by stopping the clearing of some financial products outside the region. EU state ambassadors have approved a new provision in a draft law on derivatives clearing that is being finalized.

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